Barclaycard launches 20 month 0% balance transfer deal
Barclaycard has released a new zero per cent balance transfer deal, with runs for 20 months - making it the first of its kind in the UK.
Last month, the credit card provider launched the country's first 18-month zero per cent balance transfer card, seeing it top the best deal tables at the time.
However, recent moves by Virgin Money and MBNA have seen it slip from the top spot - and moneysupermarket.com suggests its 20-month deal is a response to this.
Meanwhile, the price comparison site reveals that, among the top five credit cards, the average length of this kind of promotional deal has reached 17.8 months - increasing from 15.2 at the same time last year.
"I wouldn't be surprised to see other lenders react accordingly by launching similar deals, but with so many vying to go top of the best buy tables, we could see even longer deals emerge," comments head of banking at moneysupermarket.com Kevin Mountford.
Recently, Barclaycard announced its balance transfer card will be offering 25 per cent off fees in the event that the consumer needs to make more than one transfer.
Use the Myfinances.co.uk's comparison tools to find the best deal on a new credit card
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